#costcutting

I thought dan was trying to cut costs?

They act like loyalty is optional and cost cutting is the only strategy. It’s demoralizing to know someone cheaper is always lining up for your job.

https://www.freepressjournal.in/tech/nasscom-foundation-and-ibm-partner-to-skill-87000-underserved-youth

A.I. saves money. Hourly rates are lower.

BoA downgrade, split company.

Expect more layoffs in December.

The ship is sinking mates.

ABN AMRO plans to cut 5,200 full-time jobs by 2028, it said on Tuesday, as the Dutch bank seeks to deliver on its cost-cutting promises and focus on its core businesses.

The reduction, equal to more than a fifth of the lender's workforce, will affect all business areas, including recently acquired Hauck Aufhäuser
Lampe and NIBC Bank, CEO Marguerite Bérard told Reuters.

If you can’t already tell. CIO is under increased scrutiny for headcount. They are looking to reduce costs/headcount by 10% across all CIO pillars for 2026 and achieve something called “reimagine work “ by 2027? I’m not sure what reimagine work is but doesn’t sound good. Especially if it’s following a goal to reduce costs.

It is now new tactics to save money. Giving forced NS to senior person and lay him off without giving any severance package. Thus company is saving money.This is new trend in visa

Cant believe how poor the Management and Shareholders are in this company.

I could turn the situation around easily, spin off the insurance to Private Equity or IPO for $2billion, which will pay off all the debt.

Your left with a cash company generating Free Cash Flow of $400 million with no debt on a PE of 20 thats $8 Billion= $48 per share.

I would not hire any new folks, natural wastage would get rid of 20% of the workforce in the year, i would get rid of the several layers of management, the existing employees would retrain if they were offered a good pay incentive, FCF would rise to $450 milion, another $10+ on the share price to $60, then get some bolt on Acquisitions.

If Fernandez isnt going to grow the Company this is about to happen soon.

And push as many of us out as they can along the way. Anyone who thinks this is about anything other than maximizing profits by getting rid of people on the cheap is being naive.

It’d be great to see the real numbers. Anyone who’s actually used AI knows it’s nowhere near reliable enough to replace human work outright. And yet we keep hearing that “AI-driven layoffs” are the future, when most reports say many of those jobs aren’t being replaced at all, or they’re being sent offshore. It feels like nothing more than old-school cost cutting dressed up as innovation. At the end of the day, it’s plain greed and leadership completely out of touch with the people who actually keep the place running.

The way the company is being run is unsustainable and frankly, deeply disappointing. Chris Cartwright has 100% bought into this ba----dized form of capitalism in America where shareholder value is the benchmark of success and nothing more.

There is no concern or respect for the employees, the single concern is profit and profit margin, but only for shareholders.

We continue layoffs despite being highly profitable and overachieving in regard to our forecast. We continue to have our resources and tools stripped away in attempts to save cost. The expectation then falls to the remaining employees to do more with less. The real economy (food prices, healthcare costs, childcare) is in recession due to rapid inflation and heading toward depression, yet employee pay has not even remotely kept up with rising real life costs.

Additionally, we are currently launching a platform for fraud prevention that is embarrassingly underdeveloped due to a lack of resources in software, developers, and engineers. This project is being spearheaded by an Advisor who is so blinded by career ambition that their lazer focus is on getting the product launched, so that they can receive the accolades and career advancement that comes with such success, but this Advisor seems unable to see that they are driving the launch of a product that is simply not ready to face customers. This lack of foresight is common here and I believe it’s because those affected are the boots on the ground employees who’s workloads and expectations continue to rise, but those in managerial or advisor positions do not have to feel the day-to-day impact of this approach.

To continue, every idea comes from the top down. The voices of the frontline employees are often ignored. Live training is avoided at all costs, even when it is explicitly requested or the need expressed. In fact, employees are often condescended to with responses like, “we encourage you to be more proactive in your training” and explore other resources such as a wiki page; suggesting that as if it weren’t a grossly false equivalency. In addition, the responsibility is placed on frontline level employees to document and log every single action that that is taken. There seems to have been very minimal effort on the part of management to figure out and implement a way to track employee productivity that is more comprehensive than insisting that their employees take the time and effort to not only do the work, but then log their work so that management doesn’t have to take the time and energy to do so. All of this despite a strong push for increased efficiency. Does no one in leadership or management see how this looks to the average employee? It is so ridiculous that it’s laughable—and believe me, employees are laughing amongst one another because it’s either that or cry.

Moreover, the current climate in this country has not adequately been addressed by TransUnion leadership or HR. There are ICE body snatchers out in this country, the epicenter of which is Chicago at the moment, and the silence from this organization is deafening. Violence is occurring in this company’s front yard, but not one individual in leadership has had the courage to acknowledge it; no emails with resources for what employees should do should they be illegally detained, No support for our colleagues who may be targeted simply for how they look, nothing.

Cartwright and Venkat are displaying for every employee how ethically and morally bankrupt this organization is with the two of them at the helm.

It’s embarrassing and it is despicable.

One of Oracles major downfalls is when they outsourced to JLL. Oracle, DW thought it would be a great cost cutting measure , when I fact JLL is doubling the price of everything they do for Oracle. Our buildings are literally falling apart inside and out. Such a shame.. Peace and love all.. Try and enjoy the holidays all that matters is family..

Crystal Dynamics has been hit by another round of layoffs. The cuts r due to restructuring and cost reductions. More to come.

Any insight on what this message means?

"[We will be] initiating a two-year, $200M "cost-out" program that simplifies our matrix, improves agility and decision-making speed and enables greater investments in growth of New BD."

From an early morning meeting today, looks like the IT Staff Engineers are on borrowed time. GM is looking to eliminate the position and pass their work duties on to other employees in an effort to save more money. Probably some d-mb idea to send more money to the California Innovation Center payroll.

Another great SLT decision.

I can’t wait until the SLT decides to eliminate the bathroom cleaners to save money.

Got an email earlier today saying I got laid off. I’ve been here for 4 years. 4 years loyal to this company and they just fire me like that? It feels like there is no reason for them to let me go aside from cutting cost. I’ve sacrificed so much for this company and they decided to say my work is worthless.

(Repost - the original got nixed, probably because the rest of the post contained foul language)

Petty? Yes. Hear me out though.

My 1 line, phone and watch was running up the score gradually on my bill. About $98 a month or so. Without the employer discount, my bill is now going to be $170! Give me a break. Even if there's no magical ethical carrier, stop giving your money to this corporation.

Was anyone else spoken to about the new policy under Athena that work from
Home employees are not eligible for promotions or to even get new roles?. So essentially we are stuck unless we want to move close enough to one of the 6 designated hubs in North America. Another way for Pepsi to save $ in hopes that we leave willingly instead of firing us and having to pay severance. This is getting old

You will be laid off asap because your function can and will be done elsewhere for less cost.

Show me one thing good that has come from sending jobs to India besides the cost of labor.....it isn't innovation. You all lying to yourselves. Goodluck with that.

That is what has been happening every single time. Great people with plenty of experience and institutional knowledge get kicked out. I never understood how that can be considered a good business strategy. I know they want to cut costs, but when you get rid of one person who then has to be replaced by two or three people to do the same job, how is that cheaper?

Market has rejected Dan's plan. Its been a week since they announced 15K layoffs, the stock hasnt moved an inch. Could be a signal that market is anticipating further deterioration at the expense of cost reduction.

Northern needs to take a hard look as to why they keep so many employees in chicago… major expense reduction can be realized by moving those administrative jobs to lower cost locations

Just a heads-up, Compucom did another mass layoff last week. The company is massively struggling as they cant seem to get stable against competors who want to win their contracts. With their AI claims not actually coming to fruition (nothing is active) and their FLO charting system just being PowerBi reskinned... Basically all of last year was a bust, everything they have and their endeavors are all smoke and the leadership can't figure out how to right the ship with India teams as their main provider at this point while they retired while employed. Maybe next year.

Big trouble for Dell right now as the AI oasis is an actual mirage. Severe cost cutting is about to happen with massive layoffs about to hit.

Q3 results "Revenue of $1.96 billion , up 28.3 percent, or 27.0 percent in constant currency"...."Operating cash flow of $159 million, up $43 million year-over-year.
Free cash flow(1) of $131 million, up $24 million year-over-year."

These are all up, yet everything else is down. "Headwinds, inflation, uncertain government blah blah" stock is tanking, entire company is on yard sale duty, your coworkers are disappearing.

Why do these numbers not add up?

Skimming off the top? SLT stowing extra cash away? What is happening?

Feels like a lot of waste. Where is the value? Can we not do the same with less? Other companies seem to do fine. I don’t know where the value add or money savings comes from anymore outside RIF’s.

Maybe just reset every leader. Don’t know if any are actually well liked by their own teams even.

It’s disheartening to see the direction SAP is heading. Having been part of this company for so long, it’s painful to witness the current layoffs and the uncertainty many colleagues are facing. At the same time, I’ve learned that HRBPs from across the globe are flying to Germany for a week-long in-person meeting which could easily cost around 200k$
In moments like these, it’s fair to question whether such travel is truly necessary. Could these costs have supported a few more roles or extended employment for impacted staff? Many of us on the engineering side feel the weight of these decisions deeply we continue to build and innovate while wondering. We engineers are building the company and the HR and the support functions are enjoying it. Does board leaders have become so week to not even as these questions to HR Leader and the CFO who is making these hasty decisions
I hope leadership reflects on these choices with transparency, empathy, and financial prudence. Strong, people-first decision-making is more important now than ever.
Do the board leaders have become so week to not even as these questions to HR Leader and the CFO who is making these hasty decisions?
SAP has become #AntiImmigrant #AntiEmployee

Used to be that if you got a job here, you were set. You could actually plan a future, take pride in the work. Now it’s all about cost cuts. They’ve traded loyalty for churn, and it shows.

With the holidays coming up and all these much need layoffs being executed, how is the business continuity planning going, Alvind ? Shareholders should ask the question and you continually lie whenever you go in front of the media to talk about layoffs :

https://www.youtube.com/shorts/exV3avZIa9w

Net hiring up ? where exactly ? India as usual ? Who gives a darn when you are running a public American company and Americans are being laid off. Your compensation and those of your Pipmunks needs to be re-balanced (downward direction) for your failures. You are getting excessive compensation for your lack of management. As a CEO, you are an abject failure, not a great employee. And you contradict yourself in the same interview and you know it. You are an excess to IBM requirements.

Does age and tenure have anything to do with who gets picked for lay off. Wouldn't company have to pay more in severance if they let go someone with 25 years with the company as oppose to 6 years? So last in first out would save them more money?

Country specific as each European countries have different layoff laws.
A lot of field sales will go.
Accounts will be managed centrally in a lot of cases. Enterprise contracts won’t be renewed as they come up on term.
This is what happens when you run a company into the ground.
The international VBG backbone network will massively shrink in size, countries will be exited..
the on again off again BT global JV or merger seems to at least being discussed again.. And or rumours of VBG enterprise going to HCL.. that I doubt though as when MNS went to HCL they let HCL RIF everyone who transitioned over.
Can count on 1 hand the amount of large clients left… cost base is approx double actual revenue has been like this for a decade and year on year getting worse.
Basically looking at a VBG exit strategy internationally.. This is what Dan meant in Q3 analyst call - we have parts of the business that are costing us Billions in margin.

Schulman is planning cost cuts that are likely to result in the reduction of about 15,000 jobs, The Journal reported Thursday. Verizon currently employs about 100,000 people.

A source familiar with the situation told The Post that the 15,000 figure is “in the ballpark” and that layoff notices are expected to be sent out to affected employees next week.

Verizon offered $4 million retention bonuses to two top executives — consumer group head Sowmyanarayan Sampath and finance chief Anthony Skiadas — to keep them through at least the end of 2027, according to the Journal.

Schulman told a Wall Street Journal event this week that Verizon needs to get “scrappier and less bureaucratic.”

https://nypost.com/2025/11/14/business/ousted-verizon-boss-could-still-pocket-most-of-20m-salary-as-company-cuts-15000-jobs-report/

These major changes being executed by Verizon's new CEO, Dan Schulman, are way overdue at the obscenely bloated and underperforming telecom behemoth. Relentless price increases, undifferentiated products & services, absolutely horrible customer service and sheer corporate arrogance has driven many customers away at a time that competition has intensified in the mature telecommunications industry. Speaking as a customer it's about time this rotten and miserable company gets shaken up! Best of luck to all my career compadres going thru this period of upheaval at Verizon. P.s., Knowing Dan Schulman personally, I told you this was coming!

Verizon's Layoff Plan Exposes Growing Divide Between Investors and Employees

Verizon's New CEO Sees the Need to Implement Aggressive Changes Including Job Cuts

14 November 2025, 2:29 PM GMT

New Verizon CEO to intensify cost transformation and expense base restructuring, including job layoffs.
Verizon's sweeping cost-cutting plans are triggering sharply different reactions from the two groups whose futures hinge on the company's next moves. Investors see the restructuring as a long-awaited correction—one that could streamline operations, protect dividends, and lift a stock that has lagged behind competitors for years. But inside the company, employees describe a climate of mounting fear and uncertainty as reports of mass layoffs circulate with little internal guidance from leadership.

This widening gap between Wall Street optimism and workforce anxiety has become the defining feature of CEO Dan Schulman's early tenure. As the company prepares for what could be the largest layoff in its history, workers say they are bracing for a painful transformation, while shareholders look on with cautious approval. The result is a company moving in two emotional directions at once: confidence at the top, and unease on the ground.

A Gloomy Christmas for 20K Employees
Christmas 2025 will be different for an American telecom giant and gloomy for its employees. News reports say Verizon Communications will implement a massive workforce reduction of up to 20,000 as soon as next week. Also, up to 200 stores will be converted into franchises to be operated by independent owners.

Verizon is downsizing, and the twin news regarding job layoffs and new business direction are the initial moves of Dan Schulman as Verizon's CEO. The former PayPal chief assumed the post on 6 October 2025.

On his first day as CEO, Schulman already laid out his priorities. 'We are going to maximize our value propositions, reduce our cost to serve, and optimize our capital allocation to delight our customers and deliver sustainable long-term growth for our shareholders,' he said.

Aggressive Transformation
During the Q3 2025 earnings presentation in late October, Shulman shared his vision on how Verizon will return to growth.

'We are going to take bold and fiscally responsible action to redefine Verizon's trajectory at this critical inflection point for our company. We will rapidly shift to a customer-first culture —one that thrives on delighting our customers,' Schulman said.

'These will not be incremental changes. We will aggressively transform our culture, our cost structure, and the financial profile of Verizon in order to put our customers first, compete effectively, and deliver sustainable returns for our shareholders,' he added. His predecessor, Hans Vestberg, was network-first focused.

Financial Highlights
In the three months ended 30 September 2025, total operating increased 1.5% to $33.8 billion compared to Q3 2024, while net income climbed 48.2% year-over-year to $5 billion. On a year-to-date basis, the bottom line increased 18.1% to $15.2 billion from a year ago. After nine months, free cash flow reached $15.8 billion, up 9% year-over-year.

Total broadband connections rose 11.1% to more than 13.2 million versus the same quarter last year, including 306,000 broadband net additions. The partnership formed with Tillman Global Holdings' Eaton Fiberlast October will expand Verizon's broadband offering.

Schuman notes that, for the past few years, Verizon has relied too heavily on price increases for financial growth. He believes that over-reliance on price without subscriber growth isn't sustainable. He vows to discontinue the strategy.

Instead, the customer-first culture will simultaneously drive a much more efficient cost structure that fully supports incremental investments. Customers will delight in this without the decline in margins.

'My top strategic imperative for Verizon is to grow our customer base profitably across our mobility and broadband subscription businesses.' Schuman said.

No market success
Schulman acknowledged that Verizon's stock performance has been disappointing for shareholders. The share price stands at $41.11, up less than 10% year-to-date, with a three-year total return of 31.35%.

Despite this, Verizon, with a market capitalization of $172 billion, has increased its dividend for 19 consecutive years. Current shareholders benefit from a 6.71% dividend yield following the September hike.

Largest Layoff Ever
Verizon has yet to confirm the shocking news about the impending job layoffs. If true, 15% of the total workforce will be out of the company payroll. Remember, Schulman emphasized at the onset that aggressive change is needed through cost transformation and a restructuring of the expense base.

https://www.ibtimes.co.uk/verizons-layoff-plan-exposes-growing-divide-between-investors-employees-1754943

on 11/23/26 TransUnion just laid off hundreds of amazing people in their CTO technology org. People around the world were laid off. They cut way to deep this time and I expect a huge performance ripple effect in Q1. 100% their CTO Venkat is about to sink the ship with these cuts in order to hit unrealistic cost savings targets tied to his bonus. Moral is horrible.

Saw a very talented guy being laid off for cost-cutting and redundancy.

Funny part, Many of his ideas improved TU's core products and saved a ton of money for the company. I as one of his previous manager was more devastated than he was. He was moved from my project to Onetru forcibly for his talent, now laid off because of onetru/onedev's management failure.

Neustar management is firing loyal, talented full time employees in favor of contract for hires which I bet they have an under the desk deal to line their pockets.

Walgreens hourly workers set to suffer pay loss: report - Newsweek https://www.newsweek.com/walgreens-cut-paid-holiday-hourly-workers-christmas-thanksgiving-11040090

Add a quarterly reminder on your phone starting Feb 9 (~ VCIP townhall) to ask your leader how opex per boe has changed since Jan 1 2026 and what are we doing about it. We cannot stop asking this ever. Do not let them surprise you in a few years that costs are up another 20%. Hold them accountable.

If you see cost creep around you, just play it cool and write to your VP. They'll like it. Skip middle management. They'll learn.

CEP if you are reading this you need to create an anonymous cost creep hotline.

With any luck, we can avoid the next one. 10% cuts are large, 25% is derilection of duty and utter mismanagement, with consequences only for the rest of us.

Don't just watch it happen to you. The food on your family's table depends on it. Good luck. Add that phone reminder

Our new CEO is being paid a $1.5M annual salary, with up to $50M in performance incentives.

That’s equivalent to 500+ employees making $100K.

It’s hard to listen to Joe Russo talk about surgical cost reductions when our CEO is being paid an annual salary equivalent to an entire market.

Does our CEO work 500 times harder than the average corporate employee? Why don’t individual employees receive bonuses that are potentially 33 times than their salary? Imagine an STI of $3.3M on your $100K salary.

If Verizon were serious about cost reductions, it could save tens of millions by trimming the oozing fat at the top.